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a decade, the u.s. military establishment has treated cyberspace as a domain of conflict, where it would need the capability to fend off attack or launch its own. that time is here, because someone sabotaged a top secret nuclear installation in iran with nothing more than a long string of computer code. >> we have entered into a new phase of conflict in which we use a cyberweapon to create physical destruction. [ticking] >> viktor bout, in my eyes, is one of the most dangerous men on the face of the earth. >> on the face of the earth? >> without a doubt. >> which is why the u.s. government launched an elaborate international sting to nab viktor bout. what makes bout so dangerous? and how did d.e.a. agents eventually grab him? the answers in our story later. [ticking] this is what espionage looks like. the man driving the car is gregg bergersen. he's a civilian analyst at the pentagon with one of the nation's highest security clearances. his companion is tai shen kuo, a spy for the people's republic of china. bergersen knew a secret that the chinese desperately wanted to know, and neither
. >>> fueled by a weaker yen and strong sales of cameras in the u.s. >>> and shares in virgin media rally after an offer for a takeover that could value the uk cable operator at $20 billion. >> all right. welcome to tuesday. >> it's get together tuesday. coordinated, as well. >> the final print for the eurozone is finally come in, 48.6, a little better than the forecast of 48.2. >> may i just say, though, the employment index, look at that, 46.1, which is just barely better than the flash estimate but still the lowest since december 2009. on a downward trajectory. it's not germany where the final composite was 54.4. it's the periphery still. france's final january pmi falls to 46.1. >> france is where the concern is. we have francois hollande today speaking to the eu parliament. he's going to lay out his vision for the eu against that economic back drop. >> isn't it amazing? we come into the week yesterday with everyone still talking. you have that great barons cover, you come in, just get the risk trade massively off. and the question for today and the rest of the week is frankly whether that'
in london or certainly in the u.s. they wouldn't mind seeing at this point. >> we've created a million private sector jobs. >> in britain? >> yeah. >> well, congratulations. >> there you go. that is the great conundrum, right? >> it's true. the different between -- well, and even with germany. the liesh market social security holding up, despite the sharp contraction in the fourth quarter. although this will probably add to the sense that the german economy bottomed during that period. >> did i see any -- i haven't seen any, no. i think that's out a little later. plenty to get through on today's program. >> it's good to be back, by the way. >> biggest take away from the mobile world congress? what's the one thing you saw that you thought, oh, that is really cool. >> i go to a conference like this and i think, machine res taking over the world. >> that's the thing we talk about. i don't like those machine peps. >> exactly. so 50 billion connected-m devic. that's a figure thatjs -- some y the point is, it isn't just about you and i talking to each other on a mobile phone. we are well bey
. >> and is steady as she goes, the u.s. economy is expected to keep up the recent trend of modesty of unspectacular job growth in january. >>> plus, the dutch finance minister warns of a worsening deficit this year, this after the government is forced to bail out local banks after a bailout of 3.7 million euros. >>> we kick off with the pmis out of the eurozone. january manufacturing pmi, 47.9. the flash 47.5, december manufacturing pmi was 46.1. it has boosted the euro to maintain its gaze, now back over to 1.3651 and continuing to climb high. that is now a 32-month high against the yen, as well, at 11.25965. the german manufacturing pmi was a little better, as well, this morning. helping to boost those numbers. we suggest that there's benefits from emerging markets rather than, perhaps, from elsewhere in europe. anyway, coming in better once again for the eurozone. still in contraction territory, but, of course, the trend is what is being concentrated on. we had similar indicators for two die verging views on china's recovery. eases to 50.4 for january, that was below the forecast of 5079 the. bu
a 500 pound settlement with u.s. and uk regulators later this week. rbs will cover the bonus pools after a warning from the government that taxpayers should not foot the bill. rbs is planning to float the 316 branches of santander it has so far failed to sell. according to the papers, an ipo would allow the bank to dispose of that unit cleanly. lots going on. we're pleased to be joined by michael brown. welcome. >> happy monday morning. >> i know you want to talk about the super bowl. >> well, that would be nice given i was up watching it. >> i'm impressed. i should have been up staying up all night. my sister lives in baltimore. >> there are plenty of bank stories to get to in the meantime. >> absolutely. >> we're going to hear from george osborne in just a couple on hours' time. what does this mean? >> the idea is, of course, that we should have capital in both parts. but the problem is, there isn't enough capital to go around and, therefore, you don't want to spook the financial markets by saying, by the way, yes, you do need to have this. how do we get to where we want to be, i.e. en
meeting. they're due out later this afternoon in the u.s. will the fomc offer clues on an end to qe3? we're joined at 11:30 to weigh in. >>> with india's government clouded in corruption allegations, we'll speak to one of the country's wealthiest individuals and what it means for business. billionaire udai kotak joins us in 20 minutes' time. >>> plenty coming up including sony which is heading to the bill apple for a major on, national endowment. will the game console giant take the wraps off its rumored playstation? expert analysis at 11:20 cet. >>> and bhb bulletin has posted a steep fall in earnings for the first time in the year. the australian mining giant announced change at the top after the 43% drop in profit. we have more on this report from sydney. >> reporter: the surprise at bhp, billiton's ceo mariu marius kloppers announcement coming earlier than expected. >> coincided today with a weaker pricing environment. but two totally unrelated events. >> reporter: he will be replaced by andrew mckenzie, current head of bhp's middles division. he's well regarded in the industry and s
-off. u.s. markets fell yesterday following the release of the fed minutes. it was the worst day of the year for the s&p and nasdaq. as you can see, shedding 108 points there, a rare triple digit decline this year. energy and material stocks were the worst hit. all ten s&p sectors did hit the day lower. volatility on the rise. the vix rose nearly 20% on this session. the sell-off has continued overnight. the shanghai composite, the australian markets taking it on the chin. will i sixuan joins us from singapore. >> thank you, kelly. fears of an early access by the fed rocks sentiment here in asia today. the nikkei pulls back 1.4% from its 52-month high. investors remain cautious ahead of the decision on the next boj chief. construction equipmentmakers were down after caterpillar reported slowing sales for the quarter ending january. but batterymaker gsyuasa reported a fix over long-term battery problems. the shanghai composite tumbled to 3% today. commodity place were under a lot of pressure today after the u.s. fomc minutes raised the possibility of a qe asset. development and ce
shut for the chinese new year and large parts of the u.s. struggling with extreme weather. >> digging out from nemo, residents and u.s. businesses hope to resume to normal business after mother nature dumped nearly three feet of snow in some areas. >>> and ben affleck's iran hostage drama "argo" picks up the best film accolade. daniel day-lewis wins best actor. >>> we're up for another week. we might do what they did and share the love around. >> i read the reports. we're going to talk about it later. there was no one dominant film. >> i thought it was interesting that "argo" won best picture? it was a great movie, but best movie? really? is that the -- >> "lincoln" only got -- sometimes they're quite clued up. the nominations were very similar. do you think lincoln would do better than it did. >> daniel day-lewis picked up an award. help recap for those of us who didn't catch the whole thing or any of it, frankly, but yeah, britain's big film night. now it's time for the u.s. in a couple of weeks. >> besides that, plenty of other things we're looking at today. another day, another su
of the hour. ftse 100 adding about 0.8% for its part. we'll see if this positive move carries over to u.s. markets when they open in just a few hours time. as for the bond rates, it's been surprisingly quiet were as well. same happening with spain to 5.15%. so some movement out of gilt. that yield up to 2.12. it's moving out of bunds, as well, although we're still below 176%. no major change from trade levels that we've seen for the last couple of weeks. finally, forex, let's take a look at the euro. this has been important setting the tone for the trading session here and again in the u.s. the last couple of days today. it's adding 0.3%. 1.3233. we saw it jump up nearly 0.4% after that ifo data. the dollar/yen, the yen is weakening again today within adding about 0.4%. so we'll see what impact that has had on trade across asia. let's get straight to li sixuan for more. hi, sixuan. >> thank you, kelly. asian markets wrapped up the wobbly week on a mixed noed note. the shanghai composite lost 0.5% today and slumped nearly 5% on the first trading week on the year of snake. investors cautiou
cheats of all kinds. it's a world u.s. law enforcement has rarely been able to penetrate. so the idea the ubs, one of switzerland's largest banks, would agree to turn over information on thousands of american tax cheats would have once been unthinkable. but it happened in part because of a whistle-blower who i sat down with in 2010. for his efforts he's been rewarded with a federal prison term and the possibility of endless riches. though he was born and raised in the boston area, bradley birkenfeld spent most of the last decade living in switzerland, helping wealthy americans hide their money. he was based in geneva, where he says there may be more money-counting machines than parking meters, in a country that once bragged it had more banks than dentists. >> it's not swiss money in those banks. it's foreigners'. you have a culture there that has been ingrained in society about managing people's money, protected by swiss bank secrecy. >> and who has a right to that information under swiss law? >> only the banker and the bank itself. >> how unusual is it for a swiss banker to come forw
from her later in the show. >>> and taking the positive u.s. housing numbers from the nhab numbers. we'll be in new york with analysis at 11:45 cet. >> the italian election race is heating up. there is less than a week before voters head to the polls. comedian turns politician beppe grillo, in fact, is owes closing in on sylvia berlusconi for second place. official polls can no longer be published. the private polls seen by reuter s suggest mario monti may, in fact b with be something of a spoiler. >> and the election largely coming down to five key candidates. the front-runner is bersani. he's the leader of the center left pd party, calling for growth measures alongside monte's plan. sylvia berlusconi is threatening to make a political comeback despite corruption scandals. we've mentioned the comedian beppe grillo. at the same time, the former caretaker mario monti, he's been struggling to gain ground in his first ever political campaign. and then last, not necessarily least, there's the civil revolution leader and former public prosecutor antonio ingrola. >> only in italian politics.
. the fact is m & a activity in the u.s. is up to its best level since 2005 but it's really a segregated activity. merger activities are off 20% from a year ago, look inging a, despite the lbo, technology sectors are over 30 misyear over year. if the fed is very accommodative as capital markets are offering credit, dealing with robust activity, should help the earnings family going forward. >> is that a positive we've got more deals coming or is it where we are in the market? >> our groups at s & p capital iq 70% correlation between the actual activity and s&p 500. >> and it also speaks to the confidence people have to be putting their cash to work and it's not just dividends and buybacks but also making acquisitions to fund growth for the huge year, and this is sorting to pick up. that's a very -- i think the other point, maia. >> to put a finer point on my concern. the president is relenght on increasing taxes again and i don't think that's good for market psych swri right now. >> john? getting pack. that could be problem make. it's because of the president's filed policies that we bel
of the pond is the snowstorm. it seems like winds, 50 miles per hour. blizzard conditions in the u.s. we know when there's a storm like that headed for the biggest media market frankly in the world, it's probably all you're going to hear about for a while. >> that doesn't mean there aren't other things, too the. >> that's true, in other parts of the world. >> china is ushering in the year of the snake. i'm not sure what that means, but we'll talk about it. should investors brace for a slippery return? i have to say, previous years of the snakes haven't been that great since the big historical events happen. >> maybe we should call it year of the strong. >>> peugeot reveals massive write-downs as reports suggest the company may nationalize. we'll have details live tr paris at 10:10 cet. sxwt latest on the blizzard threatening to bring chaos to the east coast. we'll have the latest from atlanta. >> and are investments as pretty as a picture or a still life? ross, there's been a couple of big auctions here lately and it's always a good gauge of how well people are doing, how hard assets, real pr
. >> and the most romantic hotel in the world, the anastasi apartments in greece. >> in a that looks u.s. >> and in the u.s., the bardesbond in, the rooms start at 600 and go up to $1,200. >> they bottle that, it's called wine. thanks so much. happy valentine's day, everybody. no matter what you do, enjoy it. thanks for watching "street signs." >>> hi, everybody. we enter the final stretch. welcome to the "closing bell." i'm maria bartiromo at new york stock exchange. this market fighting for a close in positive territory, brill. >> the dow is fighting. got the s&p and nasdaq positive, but we're kicking off the final hour watching other stories as well right now, including a huge day for mergers. warren buffett buys heinz. american/usairways form the biggest airline in the world, but so far the stock market seems unimpressed. what message is that saying about where our economy is right now? we'll look at that coming up. >> a lot of implications to see this deal flow pick up steam early in the year. more signs though that the individual investor is dipping his or her toes back into the st
're going to speak to the top u.s. official at this meeting. ross, back to you. >> steve, good stuff. plenty more to come. let's get more from darah from hsbc. darah, are countries involved in currency wars or is it just the result of central bank policy which they need for their own domestic economy? well, i think actually both, really. but our assessment is that there is evidence of this currency war. the number of players is rising, the number of tools they're using to deliver it is grog. and just the scale of players. you have the japanese yen in the currency in maneuvering position and it's far more significant. there are far bigger players in the fx market than what we've seen in the past. >> you've done this chart. the most active is switzerland and japan. now, swisserland because they have a peg which they're defending. in japan, one could easily argue that their currency was far too overvalued. >> yeah. >> and oversold of their own. >> they don't dispute that. i'm sure it's a starting point when japan began this promise of radical monetary easing. and talking down its currency becau
of the world, europe, still very slow, but china a bit of a rebound, and, maria, the u.s. doing okay. again, hewlett-packard better than anticipated. >> all right, david, thank you. stay right there. we're going to bring in david garrity and roger kay of end point technologies associates. good to see everybody. thanks for joining us. want to point out aig numbers are also out, and i want to tell our viewers that there is stock to buy in aig after the close tonight. just spoke with the market-maker there, so we're watching that story as well as this story. hewlett-packard though is the focus right now. david garrity, what's your take on the quarter? >> the earnings multiple for the company, single digits, a five handle. i mean, here's a company. it's great and wonderful that they are doing better in terms of businesses that are losing share in the overall computing market, and it's thighs to see that they are getting some positive margin surprises, but the fact of the matter is hewlett-packard was initially thought to be an innovator and what we see out of corner, fine, we can rearrange the
. that was mr. bernanke last night. gave support to u.s. markets as we're just over an hour and nearly ten minutes into trade in europe. down on the session lows. you see pretty even stevens on the dow jones stock 600 between advances. and advances nosing in front at the moment. we have come back from the earlier, better start that we had. nevertheless, trying to claw back losses from where we were yesterday. the xetera dax flat at the moment. the ibex in spain up .5%. the ftse mib up .2%. there are some individual stocks worth looking at this morning. here we go, eads up 5% after earnings beat expectations. more on that company later on in the show, as well, with our correspondent in paris. and 6.7% raise in brig. shares rising because of the opt stick outlook for 2013. swiss livestock up 7%. their numbers came in with expectations. shares rising after the c.o. said further writedowns are unlikely. and cable deutsche down 4.5% on reports that vodaphone will have a takeover bid. italy, 4.86%. as peter said, 5%. anything blow that might be a low result. this is interesting, draw your tensio
from right here in the u.s.a. this man set up a trading company in philadelphia. you are charged with trying to buy a centrifuge that could be used to make biological weapons, like anthrax. >> yes. that's what they say. >> do you know how much money you have? >> no. >> i mean, does 17 billion sound about right? he is the richest man in russia who just bought the worst team in the nba. but as you'll see, he's not like any other owner of a big time american sports franchise. he's an adrenaline junkie with a few unusual toys. >> see? [gun clicking] >> and he owes some of his fame and fortune to a bevy of party girls. >> frankly speaking, i like women. >> coal has made jim rogers and his company rich, and that's why we were surprised to hear what this power baron has to say about what coal does to the environment. you know, there are a lot of people, many of them in your industry, many people that you probably know, who say that global warming is not a big problem. >> it's my judgment it is a problem. we need to go to work on it now. and it's critical that we start to act in this cou
, a lot of people are forgetting, they have around $137 in cash and equivalents. the stuff not in the u.s. is really difficult for apple to repay tree ought without a big penalty. we are talking in the neighborhood of $40 billion. it seems like from what apple put out in the statement last week, they are planning to do some sort of extra thing beyond their announced dividend. but it is a smaller pile of cash than people talk about. >> let me bring in molly woo had from c-net. do you they they get in terms of how shareholders are feeling a the moment and how do you think he will respond? >> tim cook has been an executive who is very plug need wall street and move of shareholders. i think that he, possibly more than steve jobs would have, is probably sympathetic to the shareholders and will offer a bonus or something to keep them happy. >> is that enough, though, is the issue. >> exactly. >> the expectations are very high, such as complacency. >> i think that expectations are always high for apple. so there is a very good chance that shareholders will be disappointed. apple has always been
.75 a share. it would be the biggest leveraged buyout since the financial crisis. the u.s. government launching a civil lawsuit against standard & poors and mcgraw-hill over mortgage ratings. this is the first federal enforcement action against a credit rating agencies over alleged behavior tied more to the crisis. we'll talk more about the story and the implications with jacob frankel as 6:30 eastern. >>> and there's more news for boeing. the company has asked the faa for permission to do test flights. this suggests boeing has found solutions that led to the grounding of the entire fleet last month. the transportation agency says it's unclear whether battery, chemistry or an electrical issue caused a main battery on a plane owned by nippon airlines last month. investigators said today they may widen their probe on other components on the aircraft. >> thank you, mr. professor. yum brands is warning it is expecting 2013 warnings to shrink as it struggled to manage a food safety scare in china. remember i made that joke about cats. we'll leave that alone. also, toyota now raising its an
, issues in the u.s. on the fiscal front. obviously, growth around the world. i think we're all pretty constructive on those issues, but i'm sure there will be uppes and downs every year as there are this year. >> and in an hour tr now, we're going to talk to one banking analyst who says that the investment banks will continue to be more volatile than those at ubs because ubs has made a bigger cut. we'll speak to him in one hour's time. for now, i'm going to go back into the warm where it's not snowing as hard. meanwhile, my cameraman has built something very nice, a very nice snowman. he's even got a hat. >> we noticed that straightaway. >> and so did michael houston. carolin, whose hat is that, by the way? >> it's a hat, it's a snow hat from davos, as far as i know. it's a davos hat. >> a agageneric davos hat. next time we come back, i want some eyes and a nose. if we can do that, that would be very good. you've got an hour. thanks, carolin, thanks, kurt. >> now, the falling yen is helping to keep sony on its profit path. the home electronicsmaker is sticking by its outlook as the we
electric power on the u.s. east cost, maybe the west coast, and attempt to cause a cascading effect. all of those things are in the art of the possible from a sophisticated attacker. >> do you believe our adversaries have the capability of bringing down a power grid? >> i do. >> is the u.s. prepared for such an attack? >> no, the united states is not prepared for such an attack. >> it's now clear this cyber threat is one of the most serious economic and national security challenges we face as a nation. >> four months after taking office, president obama made those concerns part of our national defense policy, declaring the country's digital infrastructure a strategic asset, and confirming that cyber warfare had moved beyond theory. >> we know that cyber intruders have probed our electrical grid, and that in other countries cyber attacks have plunged entire cities into darkness. >> president obama didn't say which country had been plunged into darkness, but a half a dozen sources in the military, intelligence, and private security communities have told us the president was referring to br
raising annual profit guidance on the weaker yen and stronger u.s. sales. elsewhere in china, the shanghai managed to end in the green for the eighth straight session. property developers saw profit-taking on fears of new curbs, but brokerages staged a strong rebound after losing over the past two days. >>> the hang seng rebounded from its one-month low, ending higher by about .5%. many blue-chip name gained ground. but gaming stocks tumbled after the "times" in the u.k. reported beijing is set to crack down on junket operators bringing in high rollers to the mainland. the move continues the fight against corruption and money laundering. >>> elsewhere, south korea's kospi bucked the upward trend, ending lower by about .1%. australia's asx 200 climbed to a 21-month high, ending higher .8% helped by gains in miners in banks. india, action trading flat. back to you. >> all right. thank you very much for that. that's where we stand. >> of course in the case of the nikkei, jumped -- an extraordinary move. you have to wonder, i haven't heard people ruling out hitting levels of 2,000 again. if yo
. what are the negative presumptions that got rebutted? the u.s. economy must be slowing. right? i mean, on account of all that negative stuff people keep talking about. guess what. today made the notion seem fanciful. we got good macro, meaning we saw durable goods data, showing demand for machinery rose the most in two years. how does that happen? it comes on top of the recent increase in container board, the corrugated box stuff that your packages come in, fedex and stuff. one of the most sensitive economic indicators out there and then a $50 increase in sheet steel, it fell from a match by ak steel. and you cannot put through container board and steel price hikes in a weak economy. you would say, no, no. i need more evidence. take a look at transports, incredibly sensitive to commerce. today they rallied the most since july last year. jb hunt, almost up four points, 52-week high. i don't talk about the truckers enough, my bad. i spend too much time on transporters like ups. a name my charitable trust bought more of. and fedex. but the truckers are a fabulous indicator of economy str
's folks. u.s. post office ending saturday delivery of first class mail. if congress will go for it in but the move has major ram mications for business and for you. markets right now, pretty steady this hour. energy has been the leading sector in this recent rally. so are these still -- these stocks still a hot play or are they too hot to handle now? if you thought profits were the thing that is the only thing that ceos cared about, think again. we will tell what you is keeping top guys and girls up at night. my partner sue is up at the stock exchange. sue? >> hi, ty. money-losing u.s. postal service is ending saturday delivery of first class mail. all in an effort to trim costs. postmaster general speaking to cnbc about the move and ramifications for you and for business. pearson is in washington with the plan and political fall out. hampton, you're up first. >> losing about $36 million a day, cutting saturday first class delivery will save about $2 billion a year. it is really the best short term option right now for the postal service with losing $16 billion last year np
be a felony to use stem cells in an unapproved therapy or to sell them for export to the u.s. that's why we were surprised to see this on many websites: a shoppingart. we clicked on eckluns stem tech labs cart, and, with no medical or scientific credentials, we bought 20 million umbilical cord stem lls for $5,000, shipped to america. we had the cells sent by the highest medical standard. duke university suggested we use something called a dry shipper, cooled with liquid nitrogen. we sent the dry shipper to stem tech. stem tech sent the frozen cells to us. and we forwarded them to joanne kurtzberg. a computer chip inside our package verified that the cells were properly frozen all the way. dr. kurtzberg analyzed the cells. for comparison, look under the microscope. healthy umbilical cord stem cells look like this. the cells we got from stem tech had disintegrated. >> so these are the cells you purchased. and they are dying or dead. >> we see all of these dead and disintegrating cells and, essentially, cellular debris. >> mm-hmm. >> are there dangers of injecting that into someone? >> there a
markets, as well. this is where we stand in the u.s. spanish yields higher, 5.31%. interestingly enough, we look ahead to mr. person unanimousky to give treasuries. gilt yield 2.018% is where we stand at the moment. giving support because of the risk off caused by those italian elections. euro/dollar, that's been down to 1.3039. that's the seven-week low, january 10th we hit that. dollar/yen, what a wild day yesterday for dollar/yep. we hit a 33-month high for dollar against the yen, 94.77. then we fell down to 90.85 at the moment. 91.94. aussie/dollar still weak. sterling/dollar, we're spinninged in at this low, 1.5166. selling has bounced back as you might expect against the euro. the italian election yesterday caused gold to spike up to around 1600. just below it at the moment at 1598. brent continues to weaken below 114 and nymex a little weaker at 92.32. that's where we stand in reaction to the after markets here to the italian elections. let's get more reaction on the asian markets with sixuan. >> thank you, ross. asian markets fell sd as the political stalemate in italy was felt
on the money. it is the u.s. government versus standard & poor's. the most aggressive move yet to hold accountable a company at the center of the financial melt down of 2008. the $5 billion civil suit charges s&p intended to defraud investors by giving securities created from subprime loans aaa ratings they didn't deserve. the attorney says not so fast. >> the government has to show in this case not that a lot of people lost money because of the investments. government has to show the s&p literally disbelieved its ratings. >> meanwhile it was a choppy week for the markets. the dow with the worst day of the year monday falling triple digits and getting most of it back on tuesday. market residence bounded later in the week. what's next? >> i think we'll have a correction. the market started with investors complacent. now they are almost euphoric. everybody you have on the program thinks the market is going higher. the market, when it has a good january usually has a great year. there is a feeling of comfort. we have a lot of hurdles to get over. >> dale hopes a new deal to go private wil
other areas. the economically sensitive name has also become a leadership group here in the u.s. >> you're paying. that's a pretty big market. russia. that's a pretty big market. i'm not -- short bonds, and agriculture, but we talked about agriculture before. >> talking about agriculture in a second. let's talk about japan. japan has been on fire. you've got the government creating all of this stimulus. is that going to end badly as well? >> japan, you know, is down 75%. 75%. >> but in the last couple of months what is it up? >> last couple of months, coming through the roof. thank you, japan. thank you, mr. abe. >> what about the nikkei average? >> i know what it's been doing. japan will continue to print money. it's not good for the world. it's making markets go up, but in the meantime i'm participating, you know, the yen is collapsing in japan, but the stock market is going through the roof. >> but if they are printing all this money in japan and you're positive on it, but they are printing all this money in the u.s. and you're negative on it? >> the american stock market has hit an
in the market for a while. people know about it, and the reality is that in the u.s. specifically we see economic activity improving in the future and improving more than expectations and a big driver of that is the housing market. housing drives consumption and housing prices are going from linear to parabolic which gives the consumer more power to purchase. >> rick santelli, jump in here for a minute because we're trying to figure out if in fact we are seeing this trade out of fixed income, into stocks, not necessarily happening today, but do you have any read in terms of if this is an actual trend happening? >> well, i think when i look at treasuries, i see we're only up 19 basis points on the year in 10s. i don't think it's an issue. i don't see this impending huge selloff in treasuries. listen to the dovishness in europe with regard to a variety of issues, not the least of which is they are worried about a high euro and growth in some of the southern countries. >> yeah. what did you -- >> i do see it playing out in high yield and corporates. quickly if you look at barclays, one-mont
, and it's kind of interesting. this is a gauge of consumer spending. u.s. sales weakness persisted into early february. remember, we had that e-mail leak. kind of expecting this. walmart is up today. >> today's thing that makes you go hmm. not really sure what atlantic university is thinking. renaming the football stadium to geo group stadium. okay. except geo group is a priflt prison corporation based in south florida. the company will donate 6 million to fau over the next six years, the ceo is an alum and a member of the board of trustees, a good gesture, i get it. the optics, you have to admit, not adele even looking through. attention all red sox fans. curt schilling's bloody sock is up for sale. here's brian schactman. >> reporter: i touched it yesterday. as a sox fan i touched the sock. >> did you wash your hands is this. >> do it like southie does. >> you criticize mine. >> sock. >> reporter: even though it's kind of odd, a long song with dried blood back. those not in the know, want me to keep going like this, sul? 2004. curt schilling pitched a six-inning world series gem
that is completely an mating the white house. take illinois spending patterns and extrapolate that onto the u.s. economy, that's where the president is proposing to lead us about $26 trillion in debt. i don't think we're going to hear a lot about how the president can grow the economy through the private sector and why unemployment is still at a nagging 7.9%. i think that's where the action is and what he should be talking about but i don't think that's what we'll be hearing. >> when i was on "squawk box" this morning we entered a lot of democrats. they seem to think his last speech and the speech he's going to make tonight are going to be completely embracing both sides of the aisle. do you agree with that assessment? >> i'd be surprised. if you listen to the inaugural speech, this is going to be inauguration 2.0. i'm delighted to be surprised to hear a sincere bipartisan effort on the part of the president. what i've noticed over the past few years, the president's definition of bipartisanship is you vote for my stuff. i don't think that's a way to get to a remedy on a lot of these problems.
street or for the u.s. a main street brand. but they have this great digital fashion thing going on. it's a gimmicky partnership with google. you see these reports about google getting the lines between fashion and retail and tech are all blurring. >> they are, indeed. so on today's show, there's a -- here is another taster. in china, it's the first trading day market in the new year of the snake. so will it be new year old problems? up next from hong kong, we'll have the latest analysis. >> did you just slither? also, the final week of campaigning in italy ahead of the general elections. we will be live in milan throughout the morning for a roundup of the candidates policies and pit falls. julia will join us for that. >>> and hear state from the finance ministers. we have a roundup of the g-20 meeting in moscow. >> and london fashion week is under way and international expansion seems to be the latest trend. we'll hear from top designers who are putting their foot forward on the global runway. >>> first, standard & poors says it wants more time to gauge shinzo abe's rating policies. s&
to 92 versus the u.s. dollar. of course, the road map here starts with the all-important jobs report. and the dow nearing 14,000. the u.s. adding 157,000 jobs in january with the unemployment rate ticking up to 7.9%, despite the partisan nonpayroll jobs. a large part of the jobs coming in the final months of the year. >> we want to take a closer look at what the jobs number says about the economy and mashlgs. art is here. happy friday t. is a happy friday to some degree, joe. your take not just on the month, but on some of these revisions, three-month average now, over 200 k. >> 200 k, in january, three-month moving average. december is also 200,000, 201,000 moving average. i wouldn't say this is a boom, but the economy looks a lot better after the fact. it tells me two things, number one, this momentum will carry into the new year. because with better data, we know the economy was a lot healthier. we also know that people have more income and they're probably going to be able to withstand this tax hike on the payroll side better than we thought. and people should start revising thei
to continue to liege to the large caps but the u.s. mid-cap stocks up and if the market is up, eight straight weeks that the market has been higher. in my memory that hasn't happened in more than 20 years. >> the question is does it continue? >> i think so because there's still a fair amount of mistrust in stocks from so much of the investing public, and i'm starting to see grudgingly that institutional investors are slowly increasing their stock allocati allocation, recognizing that in most pockets of the bond market it's noust jt going to get it done for their liability. >> michael irish cammy, what do you think? do you want to put more money to work here? >> you do. we've got another 5%, 6% on the upside from here. doesn't mean it's going to be a straight line, but i think there's reasonable news coming out about earnings. the news has actively been good but it looks like there might be a resolution on that. europe appears to be destabilizing and i don't see why the market doesn't go the up 5%, 6% from here and in particular areas like large cap we although continue to find rotation as peo
of a mess is italy. what does it mean for europe and the u.s.? a shift in u.s. energy policy. we were trying to lessen middle eastern imports but something just changed. we'll be back to tackle those topics when "power lunch" returns in 2:00. [ male announcer ] any technology not moving forward is moving backward. [ engine turns over, tires squeal ] and you'll find advanced safety technology like an available heads-up display on the 2013 lexus gs. there's no going back. >>> major snowstorm slamming into the middle west this. video comes from kansas city. they were hit very hard there just a week or so after another storm walloped them. tens of thousands of people lost power in that area. in some parts of the middle west measuring sticks show three feet of snow has fallen. sue, in this digital age we still use measuring sticks. >> it's amazing, isn't it, ty? they have had a lot of snow. it's going to take a while to dig out of that. >>> meantime italian business leaders are in shock at the election results which could cause a political stalemate which in terms could affect much needed economi
to boost the u.s. economy and help the middle class. >> together we have cleared away the rubble of crisis. we can say with renewed confidence that the state of our union is strong. >>> there we go. >> who doesn't love to kick off a wednesday morning with the iea monthly oil report? >> they have lowered their oil demand growth expectations on weaker gdp forecasts. demand growth, 840,000 barrels a day in 2013. they've cut the forecast for opec crude to 29.8 million barrels a day. they say oil supply will hit a 12-month low in january. >> can we show crude and look at the reaction there? we'll take a look in one second. what else are they saying in this report? >> they say the non-opec supply will be rising. opec supply will be falling. non-opec supply is rising, one million barrels a day this year. then they talk about iran oil production hovering below the lowest in 30 years. new sanctions could see further declines in iranian output. they say the sanctions are costing around $40 billion in export revenues over the last year. >> wow. not a huge reaction there in the oil price, brent up .1,
's will close its structured capital markets business and focus on investing in britain, u.s. and africa. they also posted earnings for 2012, down 6 million pounds versus 5 million last year due to a reduction in the value of the bank's debt along with situation payments for the selling of financial products. barclay's rate dividend to 6.5 shares for 2013 is off to a fairly roam start. joining us first is oliver ralph, financial times lex writer. oliver, thank you so much, indeed, for joining us. what do you make for what you've heard from anthony jenkins this morning? they're obviously trying to say it's going to take time, we're trying to restore our reputation. is it the right thing? >> yeah, it is the right thing. they've launched the business. the core of the bank remains the same. london investment bank and new york investment bank. the core of the bank remains the same. they're making changes around the area and the core of it is as it was. >> talk about the investment bank in particular. this has been the place where not just barclay's, but a lot of the competitors, too, try and
and spain, to a lesser extent. i would say the declines in the u.s., fairly modest. given that we moved a thousand point in the month of january. >> kenny was here, director of floor with securities. >> we haven't even traded 300 million shares down here today. that's relatively weak. but you made the point. we were up almost 7% year to date. so off a half percent or three quarters percent is not a reason for anyone to panic but a sense the market was exhausted like we been talking about and that in fact maybe it will test the 1475 level for support on the s&p because it was such a tough level to get through on the way up. >> on the way up. >> let's listen to what les had to say because he is longer term bullish and maybe this entry point. take a look. >> this is a crisis for another crisis. we look at again, the market from a cycle of viewpoint, when have you market that started the way this did, consolidated very nicely. now have you exuberant phase, again, i'm still comfortable saying at some point this year, at least 55% possibility. >> all right. 1600 is what he is looking for. is
, where are we going, all on the same track. right now the way to put the money is put it in the u.s. japan has obviously benefitted from that. >> you have not been alone on the floor here among your trading brethren who have been skeptical of this rally as it continued. some others though have thrown in the towel and are going with the trend higher. are you still skeptical? >> i'm definitely still skeptical. >> okay. i think the risk is to the down side. if we get a 5% pullback, which would not be bad for the market, are people going to put their money to work. putting it into work when times are good. when times are bad, markets back off and that's where markets seem to accelerate. >> going out neither highs of the day with the dow up about 5.25 points here, and the s&p up a fraction right now. stand by. a lot of earnings news coming your way. plus former fdic chair sheila bair coming on the second hour of "closing bell." >>> and it is 4:00 on wall street. do you know where your money is? hi, everybody. welcome back to the "closing bell." i'm maria bartiromo on the floor of the new
the purse strings a little bit. nothing to write home about but in the u.s., for example, state and local governments grew for us and federal was not down year over year as we've seen in prior quarts. >> do you have any clarity on what this tells you in terms of the next couple of quarters on government spending? >> not in terms of government spending, maria. it does tell you if governments are going to deliver increased services to their customers they have to spend on i.t. most government leaders do the exact wrong thing. they basically try to hold on to all the employees and don't right size the organization and then use i.t. to provide better health care, education, security to their citizens. that usually takes a period of time, but for your state and local government, first resisted spinning i.t., perhaps ten months ago and it's picked up at a healthy growth rate of 7%. >> john, let me switch gears for a moment because you and many of your colleagues in business seem to be faced with this embarrassment of riches, and that is sitting on a lot of cash in terms of giving you great flex
food chains, particularly u.s. fast food chains because it is perceived they have higher quality food than local brands. so when that higher quality food that that reputation goes away, it's going to be very hard to win the consumers back. >> if you're buying the stock, which i'm ng, you're betting on novak. novak's a survivor. novak is a fellow -- he had a very similar address that i did at one point the. he lived in his car. this guy is a comeback kid. he can't come back in the -- >> the one thing i will say is the head of yum in china, sam su, is regarded as the godfather of fast food in china. he is the one who really made yum its presence, bigger than mcdonald's on the ground in china. born and raised in china, went to school here in the united states. maybe he has sort of a better sense of how to get back into the chinese market. it's going to be a big challenge. >> he's kitchen sinking, i think. one of the things that is the devil yum for the last 15 points, is that they can't get their arms around how bad it is. >> yeah. >> it's real bad. now they're saying it's real bad. mayb
. nothing to write home about, but in the u.s. as an example, stay and local government actually grew for us this quarter and federal was not down as much year over year as we've seen in prior quarters. >> and another sign of improvement in the housing market. the number of u.s. homes entering the foreclosure process in january fell to a level not seen since the peak of the housing boom. down 11% from december but all is not well says housing baron sam zell. >> everybody kind of has ignored the fact that there's still 3 to 4 million houses in purgatory. not for sale. not foreclosed. maybe occupied, maybe not occupied. and you've got to address that. >> if you're looking for somebody who has done it all, look no further. he's with us. bob hormats is vice president of goldman sachs international. at the state department making the case for american companies overseas. bob, it's good to see you again. >> great to be back on your show. >> thank you so much for joining us. let me begin on sort of this front-and-center issue that we're all talking about and that is sequestration. mandatory spendin
. germany, close to 2% off and france over 2% and the ftse down materially. u.s. stocks to drop yesterday's session on that uncertainty in europe. stocks steadily declined throughout the day. and accelerated losses during the final hour. the dow and the s&p tuning in their worst days of the year. major asian markets also trading lower. exporters exposure to europe, they were hit particularly hard, as you'd expect. and u.s. equity futures at this hour, we have green arrows and things might turn themselves around today. fed chairman ben bernanke is going to be heading to capitol hill this morning for day one of his hemp free hawkins testimony. he's expected to defend the central bank's bond buying and likely one that automatic spending cuts pose risk. cnbc is going to have complete coverage all day. and our guest host this hour is ready to tackle all of these issues. >> this yesterday was -- thanks. we saw yesterday and you know he's not becky. you did say here with becky. he was sitting right there. he looks nothing like her. >> every morning when you say the same thing -- >> i know. andre
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